Stocks are higher as tech companies release new products and the
belated September jobs numbers disappointed.
The US added just 148,000 jobs in September, missing consensus
estimates of 180,000. The unemployment rate fell slightly to 7.2%
from 7.3% though the participation rate was unchanged at 63.2%. The
report, which was delayed for weeks due to the government shutdown,
said that previous months were slightly better than originally
reported. July's payroll change was revised down to 89,000 from
104,000, but the August numbers were revised up to 193,000 from
In the month leading up to the federal shutdown, government
employment increased by 22,000. The public sector was the biggest
contributor to September job gains. As should be expected at the
end of summer, leisure and hospitality was the biggest laggard,
losing 13,000 jobs.
Just before the data release, US stock index futures were mostly
higher this morning.
(INDEXDJX:.DJI) futures were up 0.18% at 15,349.00. Futures on the
(INDEXSP:.INX) gained 0.04% to 1,739.70, extending yesterday's
(INDEXNASDAQ:.IXIC) futures climbed 0.16% to 3,359.50.
In earnings news,
) shares jumped 9.5% in after-hours trading after the company
reported better-than-expected performance last quarter. Revenue was
up 22% to $1.1 billion and earnings per share of $0.52 beat the
Street. Subscriber growth was helped by the original show
Orange Is the New Black
. Netflix now has 40 million US subscribers, but CEO Reed Hastings
says that the company is really aiming to overtake HBO's 114
million count. Since the start of the year, Netflix shares have
) will make its second big product announcement of the fall today.
The rumor mill expects a refresh of the flagship iPad with a new
processor, a thinner bezel, and slimmer body. The iPad Mini is
probably going to get an upgrade to the "retina" quality display
that makes it impossible to see individual pixels with normal
viewing. Also for the keyboard-bound, Apple is likely to announce
the release date for the newest update for OSX, the desktop
operating system. It might also unveil new MacBook Pro laptops with
the same efficient
) Haswell processors that give the newest MacBook Air all-day
battery life. Finally, for the real power users, we might get a
release date for the insanely powerful Mac Pro desktop computers.
) will release its new Surface tablets.
), also introduced its first tablet, which runs Windows 8 and
resembles its Lumia smartphone line. The Finnish smartphone maker
also unveiled two 'phablet'-sized smartphones today at an event in
E I Du Pont De Nemours and Co (
NYSE:DD), a Dow component, beat earnings estimates with EPS of
$0.45, but $7.73 billion in revenue trailed estimates.
(ARMH) reported that runaway sales of the newest iPhone boosted its
profit by 36% to 92.6 million pounds as revenue rose 27% to 184
million pounds, beating estimates on both top and bottom lines. The
British company designs microchips that power nearly all
smartphones and tablets, including those in Apple and
(OTCMKTS:SSNLF) products. Shares fell more than 1% however, as
royalty income rose by less than anticipated.